Bidding patterns in public procurement auctions
| Autor: | Bc. Jakub Kožíšek |
|---|---|
| Rok: | 2015 - letní |
| Vedoucí: | PhDr. Ing. Jiří Skuhrovec PhD. |
| Konzultant: | |
| Typ práce: | Bakalářská |
| Jazyk: | Anglicky |
| Stránky: | 71 |
| Ocenění: | |
| Odkaz: | https://is.cuni.cz/webapps/zzp/detail/138403/ |
| Abstrakt: | Public procurement market and auctions by which contractors are selected is difficult to analyze using standard econometric models, for their heterogeneity and the lack of complete data. This thesis expands on econometric models, using simulation of real life events in an experimental environment – an agent based model. The chosen ground-up approach allows for better understanding of market behaviors and patterns and to predict these behaviors, depending on the given conditions. With the analysis of how particular agents react to their changes, this represents a tool for evaluating different legislative proposals with respect to market efficiency. As the main objective of the thesis, factors affecting bidding patterns and therefore auction outcomes are studied using real data from the Czech Republic in an econometric model and then four possible legislative changes are tested using a custom made simulation model. Out of four proposals, the minimal requirement on the number of auction participants is considered a viable option in reducing procurement cost and is recommended for further evaluation. The complex model itself is released under permissive license to encourage broader analyses of the public procurement market. |
